Do you want to invest in the United Arab Emirates? There are various ways for investors to become long-term residents, whether it’s through real estate investment or starting a business.
As an investor, here’s how you can legally reside in the UAE.
Here are three ways investors and entrepreneurs in the UAE can claim residency in the UAE:
- Dubai Investor visa
– Investment through residential property
– Investment in a company
- Golden Visa
- Retirement Visa
1. The Dubai Investor or Partner Visa
These are the alternatives open to investors who seek to apply for the Dubai Investor Visa, according to Invest in Dubai, a business platform provided by the Dubai Government:
– Investment through residential property
Individuals who choose to invest in residential property valued at Dh1 million or more are eligible.
A maximum of 50% of the property’s worth can be financed.
If each individual’s stake in a jointly owned property is valued at least Dh1 million, they are qualified to apply.
A single residential property must be purchased, not commercial property.
Furthermore, the visa is only available for freehold residential properties; off-plan properties are not eligible for this visa.
The visa is valid for three to five years and can be renewed as long as the investor owns real estate in the country.
Investment in a company
Individuals who desire to invest or create a business in Dubai’s mainland or several free zones are eligible.
In order to start a firm on Dubai’s mainland, you’ll almost always need a UAE-based partner. However, in certain business operations, the UAE has recently authorized 100 percent foreign ownership of onshore [mainland] enterprises in the UAE.
This visa is available to investors who possess at least Dh72,000 in existing company shares or who are creating a company with a capital investment of the same amount.
Foreign investors do not need local sponsors or partners to create a business in a Dubai-free zone, and firms are tax-free, allowing foreign nationals to possess 100% of the company.
Also read: A complete guide to buying a property in Dubai
2. Golden Visa
Investors and entrepreneurs that match the UAE government’s standards are eligible for the Golden Visa, a 10-year residency permit.
On April 18, the UAE issued a slew of new entrance visas and resident permits. This featured a revision to the Golden Visa Program. The following are some of the advantages of the Golden Visa programme:
A long-term, renewable residency permit that is valid for ten years.
A visa that does not require the sponsorship of an employer.
To maintain their residence visa valid, they must be able to stay outside the UAE for more than six months.
Sponsoring their immediate family, including their spouse and children, regardless of age
Providing sponsorship for an infinite number of domestic assistants
If the primary bearer of the Golden visa passes away, family members are allowed to stay in the UAE until the end of their permit period.
Eligibility requirements
Investing in real estate
The UAE Government issued new laws on April 18 that require real estate agents to meet one of the following criteria:
When purchasing a property worth at least Dh2 million, real estate investors can apply for a Golden Visa.
When purchasing a home with a loan from one of the local banks, investors are also eligible for the Golden Visa.
The Golden Visa is also available to investors who purchase one or more off-plan properties worth at least Dh2 million from recognized local real estate companies.
Entrepreneurs
Entrepreneurs who want to live in the UAE must meet one of the following conditions:
An entrepreneur must own or be a partner in a UAE-registered start-up in the category of small and medium enterprises (SME) with annual revenues of at least Dh1 million.
Obtaining approval for a start-up proposal from an official business incubator (an organization that assists start-ups or entrepreneurs in their business development), the Ministry of Economy, or the appropriate local authorities.
If the individual was a founder or one of the founders of a previous project that was sold for at least Dh7 million.
Projects and proposals must be approved by the Ministry of Economy or the appropriate municipal authorities.
Retirement visa
For persons wishing to retire in Dubai, the General Directorate of Residency and Foreigners Affairs (GDRFA) grants a five-year retirement visa.
Visa requirements and qualifications
You must be 55 years old or older.
One of the following financial requirements must be met:
Earn at least Dh180,000 per year or Dh15,000 per month in a sustainable manner.
Have a Dh1 million three-year fixed deposit.
Unmortgaged property worth at least Dh1 million or mortgaged property worth at least Dh1 million.
A mixture of the first two options, with a three-year fixed deposit of at least Dh1 million and property worth at least, Dh500,000 each.